Goldman Sachs Group Inc. Raises Stake in Ingersoll Rand Inc. $IR

Key Points

• Goldman Sachs Group Inc. increased its stake in Ingersoll Rand Inc. by 3.8% in Q1, owning approximately $183.57 million worth of shares, representing about 0.57% of the company.
• Ingersoll Rand reported $1.89 billion in revenue for the last quarter, exceeding estimates, while its earnings per share matched the consensus at $0.80.
• The company has declared a quarterly dividend of $0.02 per share, reflecting a low dividend yield of 0.1% with a payout ratio of 6.25%.

Goldman Sachs Group Inc. increased its holdings in Ingersoll Rand Inc. (NYSE:IR - Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,293,782 shares of the industrial products company's stock after purchasing an additional 84,445 shares during the period. Goldman Sachs Group Inc. owned approximately 0.57% of Ingersoll Rand worth $183,571,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Compass Wealth Management LLC boosted its stake in shares of Ingersoll Rand by 62.8% in the 1st quarter. Compass Wealth Management LLC now owns 355 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 137 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in shares of Ingersoll Rand by 325.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 286 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Ingersoll Rand by 190.9% in the 1st quarter. Golden State Wealth Management LLC now owns 477 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 313 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its position in Ingersoll Rand by 54.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 488 shares of the industrial products company's stock valued at $39,000 after buying an additional 172 shares during the period. Finally, Larson Financial Group LLC boosted its position in Ingersoll Rand by 136.4% during the 1st quarter. Larson Financial Group LLC now owns 494 shares of the industrial products company's stock valued at $39,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 95.27% of the company's stock.

Ingersoll Rand Stock Down 1.7%

NYSE:IR traded down $1.38 on Tuesday, reaching $77.67. 3,499,733 shares of the stock traded hands, compared to its average volume of 2,567,703. The company has a market capitalization of $30.87 billion, a price-to-earnings ratio of 60.68, a PEG ratio of 4.46 and a beta of 1.40. The company has a current ratio of 2.29, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. Ingersoll Rand Inc. has a 12 month low of $65.61 and a 12 month high of $106.03. The company's fifty day simple moving average is $81.59 and its 200 day simple moving average is $80.43.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $0.80 earnings per share for the quarter, meeting analysts' consensus estimates of $0.80. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.85 billion. Ingersoll Rand had a net margin of 7.10% and a return on equity of 12.12%. Ingersoll Rand's revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $0.83 EPS. Ingersoll Rand has set its FY 2025 guidance at 3.340-3.460 EPS. Equities analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current fiscal year.

Ingersoll Rand Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date was Thursday, August 14th. Ingersoll Rand's payout ratio is 6.25%.

Wall Street Analyst Weigh In

IR has been the subject of several analyst reports. Stifel Nicolaus set a $78.00 price target on shares of Ingersoll Rand and gave the company a "hold" rating in a research report on Monday, August 4th. Citigroup reaffirmed a "buy" rating and issued a $104.00 target price (up from $91.00) on shares of Ingersoll Rand in a research report on Monday, July 14th. Robert W. Baird raised their target price on shares of Ingersoll Rand from $97.00 to $103.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Melius cut shares of Ingersoll Rand from a "buy" rating to a "hold" rating and set a $93.00 target price for the company. in a research report on Monday, July 14th. Finally, Wells Fargo & Company raised their target price on shares of Ingersoll Rand from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $97.75.

Ingersoll Rand Company Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.